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INVESTMENT IN UNCONSOLIDATED REAL ESTATE VENTURES (Tables) | 6 Months Ended
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Jun. 30, 2022
Equity Method Investments and Joint Ventures [Abstract] |
Summary of Financial Position of Real Estate Ventures | The following is a summary of the financial position of the unconsolidated real estate ventures in which the Company held interests as of June 30, 2022 and December 31, 2021 (in thousands):
| June 30, 2022 |  | December 31, 2021 |
Net property | $ | 1,962,902 |  |  | $ | 1,563,263 |  |
Other assets | 516,328 |  |  | 434,687 |  |
Other liabilities | 415,816 |  |  | 331,947 |  |
Debt, net | 1,218,561 |  |  | 956,668 |  |
Equity (a) | 844,853 |  |  | 709,335 |  |
(a)This amount does not include the effect of the basis difference between the Company's historical cost basis and the basis recorded at the real estate venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing real estate ventures and upon the transfer of assets that were previously owned by the Company into a real estate venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the real estate venture level.
Summary of Results Of Unconsolidated Real Estate Ventures | The following is a summary of results of operations of the unconsolidated real estate ventures in which the Company held interests during the three and six month periods ended June 30, 2022 and 2021 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Revenue | $ | 64,957 |  |  | $ | 53,228 |  |  | $ | 118,173 |  |  | $ | 106,585 |
Operating expenses | (31,671) |  |  | (28,629) |  |  | (60,263) |  |  | (57,616) |
Interest expense, net | (11,663) |  |  | (8,017) |  |  | (19,132) |  |  | (15,391) |
Depreciation and amortization | (27,927) |  |  | (25,500) |  |  | (49,210) |  |  | (50,393) |
Net loss | $ | (6,304) |  |  | $ | (8,918) |  |  | $ | (10,432) |  |  | $ | (16,815) |
Ownership interest % | Various |  | Various |  | Various |  | Various
Company's share of net loss | $ | (4,822) |  |  | $ | (7,281) |  |  | $ | (9,439) |  |  | $ | (13,822) |
Basis adjustments and other | (159) |  |  | 41 |  |  | (105) |  |  | (342) |
Equity in loss of unconsolidated real estate ventures | $ | (4,981) |  |  | $ | (7,240) |  |  | $ | (9,544) |  |  | $ | (14,164) |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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- Definition Tabular disclosure of the summary of investment holdings. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B) -URI https://asc.fasb.org/extlink&oid=122147990&loc=d3e611197-123010 + Details
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